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Please help with this Accounting Cycle Project. I need it answered before midnight tonight 10/1/2023 H HHHHHH HHHH Jaurnal bolau. Shau yaur saleulatiars! a) Depresiatian

Please help with this Accounting Cycle Project. I need it answered before midnight tonight 10/1/2023 image text in transcribed

H HHHHHH HHHH Jaurnal bolau. Shau yaur saleulatiars! a) Depresiatian af the haurs b) Depresiatian af the furniture c) Intorortan the pramirsary nate d) Re aquitian af the expiredpartian af the insuranes o) Riesaqnitian af a partian af the quort's doparit Cilck here to go to the Generd ledaer workshest to complate Requirement f) Waqor earned during the secand half af January amaunt ka $5,120 and will bo paid an Fobruary 3 . s5. a) Cloaning supplior an hand an January 31 amaunt h) A aar and electric bill that ir reseived fram the eiky amaunte ta $740 and ir payable by fobruary 5 . i) Incame taxos are ta bo acerued at a rate af 30% af incame befaretaxor. accaunte and eampute adjurted balancor. Jurt add ta the balances that are already lirted. (Omit oxplanatians) \begin{tabular}{|c|c|c|c|} \hline & & onlif & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & 0 & \\ \hline \end{tabular} Area to Show Work: Requirement \#7: Prepare the financial statements for Moonlight Bay Inn as of January 31 in the space below. You will only be preparing the Income Statement, Statement of Retained Earning, and the Balance Sheet. REQUIREMENT \$6: Prepare an Adjusted Trial Balance in the space below. Moonlight Bay Inn Adjusted Trial Balance January 31 \begin{tabular}{|c|c|c|c|} \hline Account & Acouont & \multicolumn{2}{|c|}{ Elange } \\ \hline & Tikle & Debit & Cradht \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Only enter accounts that have a balance. List accounts in order of Account January Transactions \begin{tabular}{|c|c|} \hline Date & Iransaction Description \\ \hline Jan. 2 & Beganbusinessbyeachofthethreeownerscontributing$20,000incasheachinexchangeforsharesofstockinthebusiness. \\ \hline Jan. 2 & AVictorianinnispurchasedfor$50,000incash.Anappraisalperformedonthisdateindicatesthatthelandisworth$15,000,andtheremainingbalanceofthepurchasepriceisattributabletothehouse.Theownersestimatethatthehousewillhaveanestimatedusefullifeof25yearsandanestimatedsalvaaevalueof$5.000. \\ \hline Jan. 3 & Atwo-year,12%,$30,000promissorynotewassignedatSecondStateBank.InterestandprincipalwillberepaidonthematuritydateofJanuary3,2027. \\ \hline Jan. 4 & Newfurniturefortheinnispurchasedatacostof$15,000incash.Thefurniturehasanestimatedusefullifeoftenyearsandnosalvagevalue. \\ \hline Jan. 5 & A24-monthpropertyinsurancepolicyispurchasedfor$6,000incash. \\ \hline Jan. 6 & Anadvertisementfortheinnisplacedinthelocalnewspaper.MoonlightBaypays$450cashforthead,whichwillruninthepaperthroughoutJanuary. \\ \hline Jan. 7 & Cleaningsuppliesarepurchasedonaccountfor$950.Thebillispayablewithin30days. \\ \hline Jan. 15 & Wagesof$4,230forthefirsthalfofthemontharepaidincash. \\ \hline Jan. 16 & Aguestmailsthebusiness$980incashasadepositforaroomtoberentedfortwoweeks.TheguestplanstostayattheinnduringthelastweekofJanuaryandthefirstweekof \\ \hline Jan. 31 & Cashreceiptsfromrentalsofroomsforthemonthamountto$8,300. \\ \hline Jan. 31 & Cashreceiptsfromoperationoftherestaurantforthemonthamountto$6,600. \\ \hline Jan. 31 & Each stockholder is paid $200 in cash dividends. \\ \hline \end{tabular} REQUIREMENT \#1: Prepare journal entries to record the January transactions in the Requirement \#10: Prepare a post-closing trial balance as of January 31 in the space below. Moonlight Bay Inn Post-Closing Trial Balance Januarv 31 \begin{tabular}{|c|c|c|c|} \hline Account & Account & & \\ \hline# & Title & Debift & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Only enter accounts that have a balnce List accounts in order of Account Number The Accounting Cycle Project consizts of 10 Requiremente for you to complete. The Accounting Cycle Project iz due st the end of 'Week 5 . All of the information you need to complete the Courze Project iz located in this 'Workbook. - There are eight workshects in the workbook you will need to complete. - A list of Janusry tranesctione - A Chart of Accounte reference sheet - A Groding Rubric to help explain what is expected. - Esch worksheet has the Check Figures embedded as a comment. Moonlight Bsy Inn iz incorporsted on Janusry 2, 2025, by itz three owners, esch of whom contributes $20,000 in cash in exchange for thares of trock in the businese. In addition to the sale of stock, the following tranesctione sre entered into during the month of Janusry: (Sec Janusry TranesctioneTsb) Review Chaptere 3 and 4 Review the Chart of Accounte and Janusry Tranesctions workshecte for your reference. You will need to refer to both throughout the project. Review the Grading Criteris. SAVE your work frequently in this workbook. Use the embedded assistance in the template and guidance in gour tertbook. Shonld gon bart anp questions contact pour professor. Sone cells bare a red triangle in the epper right bad corner. Horer orer the cell to set the check fiqures. Moonlight Bay Inn Trial Balance January 31 \begin{tabular}{|c|c|c|c|} \hline Account & Account & \multicolumn{2}{|c|}{ Balance } \\ \hline# & Title & Debit & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & 0 & \\ \hline \end{tabular} Chart of Accounts \begin{tabular}{|c|c|c|c|} \hline Acowow Toge & AlowontNowber & Account Tille & AwmalBrbane \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline & 111 & Cash & Debit \\ \hline & 117 & Prepaid Insurance & Debit \\ \hline & 119 & Cleaning Supplies & Debit \\ \hline & 144 & Furniture & Debit \\ \hline & 145 & Accum Dep -Furniture & Credit \\ \hline & 146 & House & Debit \\ \hline & 147 & Accum Dep -House & Credit \\ \hline & 148 & Land & Debit \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline & 212 & Accounts Payable & Credit \\ \hline & 213 & Notes Payable & Credit \\ \hline & 214 & Wages Payable & Credit \\ \hline & 215 & Ltilities Payable & Credit \\ \hline & 216 & Rent Received in Advance & Credit \\ \hline & 217 & Interest Payable & Credit \\ \hline & 218 & Income Tax Payable & Credit \\ \hline \multicolumn{4}{|c|}{ Stockholders Equity } \\ \hline & 311 & Retained Earnings & Credit \\ \hline & 312 & Capital Stock & Credit \\ \hline & 313 & Dividends & Debit \\ \hline \multicolumn{4}{|l|}{ Revenue } \\ \hline & 411 & Revenue - Rental of Rooms & Credit \\ \hline & 412 & Revenue - Restaurant & Credit \\ \hline \multicolumn{4}{|l|}{ Expenses } \\ \hline & 511 & Advertising Expense & Debit \\ \hline & 512 & Wages Expense & Debit \\ \hline & 513 & Insurance Expense & Debit \\ \hline & 514 & Supplies Expense & Debit \\ \hline & 515 & Utilities Expense & Debit \\ \hline & 516 & Depreciation Expense & Debit \\ \hline & 517 & Interest Expense & Debit \\ \hline & 518 & Income Tax Expense & Debit \\ \hline \multicolumn{4}{|l|}{ Dther } \\ \hline & 999 & Income Summary & Credit \\ \hline \end{tabular} H HHHHHH HHHH Jaurnal bolau. Shau yaur saleulatiars! a) Depresiatian af the haurs b) Depresiatian af the furniture c) Intorortan the pramirsary nate d) Re aquitian af the expiredpartian af the insuranes o) Riesaqnitian af a partian af the quort's doparit Cilck here to go to the Generd ledaer workshest to complate Requirement f) Waqor earned during the secand half af January amaunt ka $5,120 and will bo paid an Fobruary 3 . s5. a) Cloaning supplior an hand an January 31 amaunt h) A aar and electric bill that ir reseived fram the eiky amaunte ta $740 and ir payable by fobruary 5 . i) Incame taxos are ta bo acerued at a rate af 30% af incame befaretaxor. accaunte and eampute adjurted balancor. Jurt add ta the balances that are already lirted. (Omit oxplanatians) \begin{tabular}{|c|c|c|c|} \hline & & onlif & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & 0 & \\ \hline \end{tabular} Area to Show Work: Requirement \#7: Prepare the financial statements for Moonlight Bay Inn as of January 31 in the space below. You will only be preparing the Income Statement, Statement of Retained Earning, and the Balance Sheet. REQUIREMENT \$6: Prepare an Adjusted Trial Balance in the space below. Moonlight Bay Inn Adjusted Trial Balance January 31 \begin{tabular}{|c|c|c|c|} \hline Account & Acouont & \multicolumn{2}{|c|}{ Elange } \\ \hline & Tikle & Debit & Cradht \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Only enter accounts that have a balance. List accounts in order of Account January Transactions \begin{tabular}{|c|c|} \hline Date & Iransaction Description \\ \hline Jan. 2 & Beganbusinessbyeachofthethreeownerscontributing$20,000incasheachinexchangeforsharesofstockinthebusiness. \\ \hline Jan. 2 & AVictorianinnispurchasedfor$50,000incash.Anappraisalperformedonthisdateindicatesthatthelandisworth$15,000,andtheremainingbalanceofthepurchasepriceisattributabletothehouse.Theownersestimatethatthehousewillhaveanestimatedusefullifeof25yearsandanestimatedsalvaaevalueof$5.000. \\ \hline Jan. 3 & Atwo-year,12%,$30,000promissorynotewassignedatSecondStateBank.InterestandprincipalwillberepaidonthematuritydateofJanuary3,2027. \\ \hline Jan. 4 & Newfurniturefortheinnispurchasedatacostof$15,000incash.Thefurniturehasanestimatedusefullifeoftenyearsandnosalvagevalue. \\ \hline Jan. 5 & A24-monthpropertyinsurancepolicyispurchasedfor$6,000incash. \\ \hline Jan. 6 & Anadvertisementfortheinnisplacedinthelocalnewspaper.MoonlightBaypays$450cashforthead,whichwillruninthepaperthroughoutJanuary. \\ \hline Jan. 7 & Cleaningsuppliesarepurchasedonaccountfor$950.Thebillispayablewithin30days. \\ \hline Jan. 15 & Wagesof$4,230forthefirsthalfofthemontharepaidincash. \\ \hline Jan. 16 & Aguestmailsthebusiness$980incashasadepositforaroomtoberentedfortwoweeks.TheguestplanstostayattheinnduringthelastweekofJanuaryandthefirstweekof \\ \hline Jan. 31 & Cashreceiptsfromrentalsofroomsforthemonthamountto$8,300. \\ \hline Jan. 31 & Cashreceiptsfromoperationoftherestaurantforthemonthamountto$6,600. \\ \hline Jan. 31 & Each stockholder is paid $200 in cash dividends. \\ \hline \end{tabular} REQUIREMENT \#1: Prepare journal entries to record the January transactions in the Requirement \#10: Prepare a post-closing trial balance as of January 31 in the space below. Moonlight Bay Inn Post-Closing Trial Balance Januarv 31 \begin{tabular}{|c|c|c|c|} \hline Account & Account & & \\ \hline# & Title & Debift & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Only enter accounts that have a balnce List accounts in order of Account Number The Accounting Cycle Project consizts of 10 Requiremente for you to complete. The Accounting Cycle Project iz due st the end of 'Week 5 . All of the information you need to complete the Courze Project iz located in this 'Workbook. - There are eight workshects in the workbook you will need to complete. - A list of Janusry tranesctione - A Chart of Accounte reference sheet - A Groding Rubric to help explain what is expected. - Esch worksheet has the Check Figures embedded as a comment. Moonlight Bsy Inn iz incorporsted on Janusry 2, 2025, by itz three owners, esch of whom contributes $20,000 in cash in exchange for thares of trock in the businese. In addition to the sale of stock, the following tranesctione sre entered into during the month of Janusry: (Sec Janusry TranesctioneTsb) Review Chaptere 3 and 4 Review the Chart of Accounte and Janusry Tranesctions workshecte for your reference. You will need to refer to both throughout the project. Review the Grading Criteris. SAVE your work frequently in this workbook. Use the embedded assistance in the template and guidance in gour tertbook. Shonld gon bart anp questions contact pour professor. Sone cells bare a red triangle in the epper right bad corner. Horer orer the cell to set the check fiqures. Moonlight Bay Inn Trial Balance January 31 \begin{tabular}{|c|c|c|c|} \hline Account & Account & \multicolumn{2}{|c|}{ Balance } \\ \hline# & Title & Debit & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & 0 & \\ \hline \end{tabular} Chart of Accounts \begin{tabular}{|c|c|c|c|} \hline Acowow Toge & AlowontNowber & Account Tille & AwmalBrbane \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline & 111 & Cash & Debit \\ \hline & 117 & Prepaid Insurance & Debit \\ \hline & 119 & Cleaning Supplies & Debit \\ \hline & 144 & Furniture & Debit \\ \hline & 145 & Accum Dep -Furniture & Credit \\ \hline & 146 & House & Debit \\ \hline & 147 & Accum Dep -House & Credit \\ \hline & 148 & Land & Debit \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline & 212 & Accounts Payable & Credit \\ \hline & 213 & Notes Payable & Credit \\ \hline & 214 & Wages Payable & Credit \\ \hline & 215 & Ltilities Payable & Credit \\ \hline & 216 & Rent Received in Advance & Credit \\ \hline & 217 & Interest Payable & Credit \\ \hline & 218 & Income Tax Payable & Credit \\ \hline \multicolumn{4}{|c|}{ Stockholders Equity } \\ \hline & 311 & Retained Earnings & Credit \\ \hline & 312 & Capital Stock & Credit \\ \hline & 313 & Dividends & Debit \\ \hline \multicolumn{4}{|l|}{ Revenue } \\ \hline & 411 & Revenue - Rental of Rooms & Credit \\ \hline & 412 & Revenue - Restaurant & Credit \\ \hline \multicolumn{4}{|l|}{ Expenses } \\ \hline & 511 & Advertising Expense & Debit \\ \hline & 512 & Wages Expense & Debit \\ \hline & 513 & Insurance Expense & Debit \\ \hline & 514 & Supplies Expense & Debit \\ \hline & 515 & Utilities Expense & Debit \\ \hline & 516 & Depreciation Expense & Debit \\ \hline & 517 & Interest Expense & Debit \\ \hline & 518 & Income Tax Expense & Debit \\ \hline \multicolumn{4}{|l|}{ Dther } \\ \hline & 999 & Income Summary & Credit \\ \hline \end{tabular}